FIGX Capital Acquisition FIGX

FIGX Capital Acquisition Corp is a blank check company incorporated in the Cayman Islands on February 20 2025 formed for the purpose of effecting a Business Combination. The company has not engaged in any operating activities to date and its primary objective is to identify and acquire a target business through a merger capital stock exchange asset purchase or similar transaction. The company completed its Initial Public Offering on June 30 2025 selling 15 065 000 Public Units at ten dollars per unit which included the full exercise of the over allotment option of 1 965 000 Option Units generating gross proceeds of one hundred fifty million six hundred fifty thousand dollars. Simultaneously the company sold 443 470 Private Placement Units to the Sponsor and Cantor at ten dollars per unit adding four million four hundred thirty four thousand seven hundred dollars to the proceeds. The net proceeds from the offering were placed in a Trust Account invested in short term U S Treasury Bills to be used solely for completing a Business Combination. After the IPO the company incurred underwriting expenses consisting of a cash underwriting discount of two million six hundred twenty thousand dollars and a deferred underwriting fee of six million four hundred nineteen thousand dollars. The Nasdaq rules require the company to complete its initial Business Combination within thirty six months or risk suspension and delisting of its securities. The company may seek to extend the Combination Period by amending its charter subject to shareholder approval which would trigger redemption rights for public shareholders. Any such extension would reduce the amount held in the Trust Account and could affect the company’s ability to maintain its Nasdaq listing. Until a combination is consummated the company will incur only administrative and compliance costs associated with being a public entity.

FIGX Capital Acquisition Corp does not generate any operating revenue at this stage. The only income recorded to date consists of interest earned on the marketable securities held in the Trust Account which is classified as non operating income. For the three months ended June 30 2025 the company reported a net loss of two hundred forty eight thousand eight hundred fifty eight which comprised share based compensation expense of one hundred sixty four thousand four hundred ninety nine and formation and general and administrative costs of eighty four thousand three hundred fifty nine. For the period from February 20 2025 inception through June 30 2025 the net loss was two hundred seventy nine thousand one hundred fifty six consisting of share based compensation expense of one hundred sixty four thousand four hundred ninety nine and formation and general and administrative costs of one hundred fourteen thousand six hundred fifty seven. Cash used in operating activities was zero for the period while changes in operating assets and liabilities provided sixty thousand three hundred sixty five dollars of cash. As of June 30 2025 the Trust Account held marketable securities of one hundred fifty million six hundred fifty thousand dollars in U S Treasury Bills with a maturity of one hundred eighty five days or less. The company may withdraw interest from the Trust Account to pay taxes if any arise. The Sponsor provided an IPO promissory note of up to three hundred thousand dollars non interest bearing unsecured due at the earlier of December 31 2025 or the closing of the Initial Public Offering; as of June 30 2025 the borrowed amount under this note was one hundred sixty four thousand two hundred ten dollars. In order to fund working capital deficiencies the Sponsor certain officers directors or their affiliates may make Working Capital Loans of up to one million five hundred thousand dollars which may be converted into units of the post Business Combination entity at a price of ten dollars per unit. If a Business Combination is completed the company would repay such loans; if not the loans may be repaid from working capital held outside the Trust Account. No products or services are offered by the company in its current form.

FIGX Capital Acquisition Corp operates within the highly competitive special purpose acquisition company sector where numerous blank check vehicles seek to partner with private operating firms. Competitors include other recently listed SPACs that have raised capital through IPOs and are actively searching for target businesses across various industries. The company’s competitive position is supported by the experience of its Sponsor and management team the size of its trust account and its listing on Nasdaq which provides liquidity and visibility to investors. Unlike many peers the company has a relatively large trust account of one hundred fifty million six hundred fifty thousand dollars which may enable it to pursue larger target businesses and to consider deals with higher enterprise values. The company also benefits from the standard SPAC structure that includes a deferred underwriting fee payable only upon successful completion of a Business Combination aligning the interests of underwriters with those of shareholders. The Sponsor’s commitment to fund working capital needs through loans demonstrates additional support for the search process. These factors together aim to differentiate FIGX Capital Acquisition Corp in a crowded marketplace.

As of the reporting date FIGX Capital Acquisition Corp does not serve any customers because it has not yet commenced operations following a Business Combination. The company’s stakeholders consist of its public shareholders who purchased units in the Initial Public Offering the Sponsor who holds founder shares and private placement units and Cantor as representative of the underwriters who also holds private placement units. These stakeholders have the right to vote on any proposed Business Combination and to redeem their shares if they oppose the transaction. After a successful Business Combination the resulting entity will serve whatever customer base the acquired business serves which could include industrial commercial consumer or institutional clients depending on the nature of the target. Until such a transaction occurs the company has no identifiable customer base to report.